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Metro International to make profits in 2010

Chief executive said that the company is on course to post a profit margin of 15 per cent by 2012

Metro International, the Sweden based publisher of 56 free newspapers in 18 countries, is likely to make profits for the first time in four years.

Chief executive Per Mikael Jenson expects the year to be profitable backed by minimum expansion and set-up costs.

In an interview to Danish financial paper Børsen, Jenson said that the company is on course to post a profit margin of 15 per cent by 2012.

He also said that the company has been taking steps to close down or sell loss-making operations to bring the company back to profit path. It has recently closed down some operations in the USA, Spain, Portugal, Greece and Italy.

Jensen also noted that Metro has not launched new editions in Europe.

However, Metro International does not publish British Metros. They are published by Associated Newspapers.